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  • guestguest Member Posts: 770
    My apologies if this has been discussed already. I have a 2003 Chevy Blazer, lease ends 10/3/05, and I'm looking to get out of the lease early. I've heard of the Pull Ahead programs but have a few questions. First, is there a program running now? If so, how many months early can be a lease be terminated? Second, if the program will terminate a lease that ends before, for example, June 2005, can I utilize the program and simply pay off the remaining few months after that? And third, how does mileage play into this? I am currently at 35,000 miles and am allowed 36,000 miles total. Do they prorate the mileage, which would mean that I am already over? Or as long as I am under the total number I'm fine? Thanks in advance for the help?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    All right, a fun car! Now we're talkin', andre1. Let's take a look at the current lease programs for the models that you are considering. As one might expect with a brand new model, or at least hope if they work for the company that produced it, Ford is not currently providing much lease support on the redesigned Mustang. According to the latest information that I have seen, if you were to lease a 2005 Ford Mustang GT Premium through Ford Credit right now for 2 years with 15,000 miles per, its base lease rate and residual value should be 7.0% and 60%, respectively. The numbers for an otherwise identical 3 year lease of this car should be 8.0% and 53%. As you can see, Ford Credit publishes what is known in the industry as lease rates for the vehicles that it leases. You can convert these lease rates into approximate money factor equivalents by dividing them by 2400.

    If you were to lease a 2005 Chrysler 300C RWD through Chrysler Financial this month for 2 years with 15,000 miles per, its base lease money factor and residual value should be .00173 and 58%. The numbers for an otherwise identical 3 year lease should be .00231 and 52%.

    Last but not least, if you were to lease a 2005 Dodge Magnum RT RWD through Chrysler Financial right now for 2 years with 15,000 miles per, its base lease money factor and residual value should be .00169 and 52%. The numbers for an otherwise identical 3 year lease should be .00217 and 49%.

    Ford is not providing any cash incentives on leases of the 2005 Mustang, but DaimlerChrysler is providing a $1,000 cash bonus for 2005 Chrysler 300 and 2005 Dodge Magnum models that are financed or leased through Chrysler Financial at this time. Make sure to take this money into account during your negotiations.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings mtgman. If you were to lease a 2004 Saab 9-5 Aero Sedan through Saab Financial Services Corp. right now for 3 years with 12,000 miles per, its base lease money factor and residual value would be an unbelievably low .00001 and 39%, respectively. While Saab is providing $7,000 dealer cash on this model, only $6,000 may be used in conjunction with the above lease program. If I was in the market for this car, I personally would wait until at least Friday to get it. I say this because General Motors, Saab's current parent company, is scheduled to introduce its new "Red Tag" sale on that day. Early indications are that enhanced Saab incentives may be a part of this promotion.

    Car_man
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  • keeferbkeeferb Member Posts: 81
    We have leased 4 Nissan vehicles - 2 previous and 2 current. One of the current leases is with Bank One, the other 3 with NMAC(Nissan's finance company). We haven't had much problem returning vehicles but we have always re-leased another Nissan so that makes a difference. Towards the end of the lease you get a certificate in the mail that will cover $500 of any 'wear and tear' charges you may incur if you lease or buy another Nissan within 30 days. This does not cover mileage overages - those you'll still pay for. With our first return 2 returns(3 yrs ago), one vehicle had wear and tear charges of around $150(which was covered by the certificate), the other had no charges.

    One of our current leases ends this month, and it sounds like the lease return process has changed for NMAC. Previously, the dealer had people 'certified' to do the inspection. Now it appears they have hired an independent company to do this. You set up an appointment with them and they will send someone out to your home or place of work to inspect the vehicle. We have ours set for next week. I'm anxious to see how this all works out. We have our $500 wear and tear certificate and do plan on leasing an '05 Pathfinder, so we should be covered.

    Hope this helps.
  • koberrykoberry Member Posts: 28
    Hi Car_Man:

    Thanks for all your help with the RX330 questions. Am having some difficulty with the local Lexus dealer and am entertaining a BMW X3 instead. Can you tell me the MF/Residual for an X3 3.0 for 36mo & 12k mi/yr?

    Best,

    Ken
  • gold233790gold233790 Member Posts: 183
    Carman-

    Thanks so much for your help with my car needs over the last month or so. Probably going with the 530i.....

    Anyway, sister is looking at the Acura TL and believes I have the magic knowledge (I told her it was ALL Edmunds and other sources, but this is her way to get me to do her research :)).

    Can you give me the residuals and MF's for the '05 TL with navigation for the following:

    42 months, 15k per year
    36 months, 15k per year

    I can help her figure out her sales price once we determine her ability to lease this vehicle, so all I really need are the current rates from Honda.

    Thanks again!
  • upndwnupndwn Member Posts: 44
    While your at it, would you please provide the information for the same lease periods and 15,000 miles/year for the non-nav TL if they are different?

    Thank you.
  • leeshuckleeshuck Member Posts: 73
    Thanks for answering all my questions, Car_man.

    I did some more research and found that my net cost on the G35 should be a few hundred over dealer invoice.

    Lee
  • leeshuckleeshuck Member Posts: 73
    Hi Car_man,

    I've also noticed that some of the special programs you reference in this forum do not show up in the Edmunds Incentives and Rebates section from the New Cars tab - do you have an explanation for that?

    Thanks,

    Lee
  • michael10michael10 Member Posts: 29
    Looking at leasing an 05 Pathfinder LE w/ Nav and Ent. MSRP $38910 sell price $36200 Can you work up a lease for 39 months - 15k miles year with no out of pocket costs?
    and
    an 05 Acura MDX - also 39 months w/ 15k miles MSRP $44345 selling price $41750. Thank you in advance car man.
  • koberrykoberry Member Posts: 28
    Hi Car_Man:

    I've been corresponding with the Lexus dealership in Raleigh, NC and they maintain that the residual on a 2005 Lexus RX330 leased for 36mo @ 12k mi per year is 58%. Is it possible that there are regional variances in the residual? The quote I got from a dealer in Virginia was 59%, consistent with what you're saying.

    When I sent them e-mail that it would take Lexus' base rate of .00165 to get me to do a deal, I thought you might be interested that they came as follows:

    <snip>
    Lexus's base money factor is .00155 not .00165. To ask us to accept a profit margin of .0001 on the rate seems a little aggressive don't you
    think?
    </snip>

    Any suggestions on how to deal with this dealer?

    Thanks in advance,

    Ken
  • corvettecorvette Member Posts: 11,258
    Car_Man,

    Could you please post what you know about the Red Tag event when you hear something?

    According to the Detroit News:
    One regional lease deal on a 2005 Chevrolet Impala sedan is a monthly payment of $113 for 24 months with a $1,300 down payment.

    This sounds like sensationalistic reporting. $4000 to lease an Impala, for any length of time, is pretty unconscionable. That's less than the depreciation on a *used* late model Honda/Toyota/(other brand that doesn't depreciate rapidly) for two years.

    I'm still be interested to know the lease specials GM is touting, it's been a long time since they really subsidized their leases.
  • lwhitelwhite Member Posts: 18
    Car_Man:

    Can your work up the two samples listed below

    2005 BMW 525
    $51,620 MSRP
    $48,205 Cap cost
    0 down
    Fees Up front
    NYC registration
    10K/ 36 Months

    2005 BMW 530
    $55,820 MSRP
    $52,030 Cap cost
    0 down
    Fees up front
    NYC registration
    10K/ 36 months

    Thanks for your help.
  • corvettecorvette Member Posts: 11,258
    >>>Any suggestions on how to deal with this dealer?<<<

    No, it's a little predatory for them to be marking up the rate at all. If they were selling you the RX330 at invoice it would be a different story. Looks like they're trying to lowball the residual somehow as well (also resulting in higher payments).
  • chubby4chubby4 Member Posts: 11
    Sorry car_man for forgetting the lease lengths etc. Here are the numbers again:

    2005 BMW 325i
    MSRP $34115
    INVOICE (WITH DESTINATION) $31270
    CAP COST $32300
    BASE MF .0008
    RESIDUAL 58%
    PAYMENT $413.54
    AFTER TAX (FL 6%) $438.36
    36 month/ 15K miles per year

    Would I be reasonable to expect this?
  • frommx5tomz3frommx5tomz3 Member Posts: 19
    Car_Man:

    I'm interested in a Volvo V50 T5 FWD in Dallas, TX. I have a few questions:

    1)Is Volvo offering any lease support on this model?

    2)What are the MF and residual for 24 and 36 months leases at 12K per year?

    3)Can you use Ford's X-Plan to lease a Volvo at a reduced Capitalized Cost?

    4)Anything else I should know that I didn't think to ask?
  • jotajota Member Posts: 1
    hi:

    The lease in my current car expires in 4 more payments (months). I want to get a new less expensive car as soon as possible. It it smart to go to the dealer where I want to buy a new car and return the car there? Are they going to give me a break? Is it better to wait until my current lease expires? By the way I went over my allowed miles like $2,500 but the car is in excellent condition.

    Thanks

    Jorge
  • mtgmanmtgman Member Posts: 18
    Thanks Car Man for the heads-up. I saw about red-tag sale Friday.
    Do you mind posting new news or no news?

    thanks
  • pjo1966pjo1966 Member Posts: 159
    If your current lease is with BMW and you plan to lease another BMW, they may let you get out of your current lease when you have three payments left.
  • nadeemnadeem Member Posts: 2
    Car-Man,

    how does one figure out residual value on a volvo XC70, if you are to lease for 3 yrs at 12,000 per year-any good resources?

    Cheers

    Nadeem
  • gperrgperr Member Posts: 163
    Carman,

    Saw the earlier post with 15K miles, but could you please post the residual and base mf for Chrysler 300C and 300C limited for 36 months and 12K miles. Thanks again.

    gperr
  • koberrykoberry Member Posts: 28
    The Lexus dealer faxed me the residual sheet from Lexus Financial Services. Turns out that they were incorrectly quoting me a residual for a 2 wheel drive (58% residual) rather than for the AWD RX330 (59%).

     

    I don't know whether to think it was purposeful or an honest but blatant mistake, given we were clearly negotiating on an AWD model.

     

    Still wondering how to get them to give me the base rate of .00155 rather than the .00195 they've quoted for a 2005 RX330 36mo 12k mi.

     

    Thanks,

     

    Ken
  • waltskiwaltski Member Posts: 3
    Car-Man:

     

    In a recent post I mentioned I was considering leasing an '05 Mountaineer Premier (loaded DVD player,leather,curtain airbags,Advance Trac, moonroof, V-8 trailer tow pkg...$38,000+).

    I am currently leasing a 2002 Mountaineer with 8 months remaining on the lease; the dealer says STOP payments ( $450 per month) on the 2002, turn the truck in and walk out with this '05 Mountaineer for $500 per month( tax included),no cash downpayment,term of 39 months.This deal is with a NewYork dealer, as that is where I live.

    I think the deal is good; what do you think?

    THANKS!

    Waltski
  • hpowdershpowders Member Posts: 4,331
    Hello Car-Man. Would you please tell me mf and residual for 2005 X5, 4.4, 36,000 miles, 3 years.

    Thank you very much!
  • st7st7 Member Posts: 12
    Car_Man, Can you provide me with the 36 month residual values and money factors for these two cars ?
  • eman1eman1 Member Posts: 1
    Hey carman,

     

    I want to trade in my 2003 Ford Expedition for a more economical car but the thing is I am upside down around $14,000. The reason for the trade is because I am purchasing a new home and want a cheaper payment. Would leasing be an option? Would dealer's be able to meet me half way with the upside down or am better off staying the expedition. Thanks so much
  • corvettecorvette Member Posts: 11,258
    Typically, you can lease or finance only up to 100-110% of the car's MSRP. By the time you add taxes to the selling price after rebates, there will probably be only a few thousand dollars "spread" between the cost of the car and the 110% figure, and certainly nowhere near $14,000. In order to get to the point where you have equity in the Expedition, you need to pay down the principal, that can happen quicker if you pay more on it. If you are $14,000 upside down, I hope you have gap insurance on the loan.
  • superman5superman5 Member Posts: 154
    hello carman, i have a question on regarding ending the lease early, i still have about another 11 months to go, but i am interested in switching car, is it possible to go to the dealer i will be purchasing from and just trade/return my car? if lease payoff is greater than my trade in value, i will pay out of my pocket, do i pay the dealer? if my payoff amt is less than trade in value, do i get the money from the dealer? how does it exactly work? pls advice
  • ajpbf7ajpbf7 Member Posts: 96
    CarMan,

     

    I wanted to thank you for confirming the #'s on my G35 Lease. Could you provide me with current residuals and money factors for a 36 or 39 month lease with 12K per year on the Altima SE-R. If possible could you do the same for a BMW 325Ci and is the MF on the new mustang really equivalent to 7%?? Thank You!
  • leeshuckleeshuck Member Posts: 73
    I acquired a 2004 M3 Convertible today for lease. I became aware of a special lease rate for them thanks to this forum and Car_man! I also noticed a special financing rate of 1.9% that started in December from the Incentives and Rebates area for new cars.

     

    Here are the details:

     

    Irvine BMW in Irvine CA has several 2004 M3 convertibles that did not sell during the peak "convertible months" (maybe they were asking too much?). All of their 2004 M3 Coupes are gone.

     

    I had sold my 1998 M3 Coupe this week and had been looking at prospective replacements over the last several weeks. I worked with the Internet director at Irvine BMW who was very professional, courteous and patient (I made several appointments/visits to check out cars). I looked at the 325i first, due to the lease special, then the 330Ci with performance package because the 325i didn't meet my desired performance level, and I also drove a 530i. After looking at various other cars (2004 Audi TT, 2005 Mustang GT, 2005 Volvo S60R, Infiniti G35 to name a few) I found the M3's to be my cup of tea, and asked for the bottom line quote on a 2005 Coupe (no special rates on these that I know of) and the 2004 convertible. This is what I ended up with:

     

    2004 M3 Convertible

    Carbon Black Metallic paint (a very dark metallic blue/black)

    Grey leather interior

    Harman-Kardon Sound System

    Heated front seats

    Xenon Headlights

     

    MSRP: $59,645

     

    Selling Price: 54,940 - pretty close to invoice I think

      

    Doc fee: $45

    Acquisition Fee: $725 (Marked up $200)

    Gross capitalized cost: $55,710

     

    Residual Value: 31,015.40 (52%)

     

    Security Deposit: $800

    1st Payment 783.05

    Initial License: $417

    Drive off total: 2005.05

     

    Money Factor .00160 (marked up from .00140)

    42 Months, 15k miles/year, 783.05/month

     

    I asked about the discrepancy between BMW's .00140 money factor and the $725 acquisition fee vs BMW's $525 and they did not seem to be interested in negotiating these, especially based on the selling price offered - maybe I could have done a little better, and could have paid the acquisition fee and doc as part of the drive off, but feel I got a pretty good deal overall. Without a security deposit they were going to charge .00175. The lease will ending in June, so I figure that would be a good time to sell a convertible for a possible profit if the new M3's coming out in the next couple of years don't make the resale value drop significantly.

     

    The weather has been warm the last couple of days, so if you are looking for 2004 M3 convertible (or maybe some other BMW) and are close to Irvine, CA you may want to get in touch with their Internet department. The other convertibles in stock have more options and therefore are more expensive.

     

    You might be able to get 1.9% financing on 2004 M3 convertibles - but they were marking it up to 2.9% for this selling price.

     

    I was told that extra miles can be purchased up front for .15/mile and up to 6 months prior to lease termination date for .16/mile. I was also told that the minimum FICO to qualify for the BMW lease was 700.

     

    I am not affiliated with the dealer, just thought I would pass on what I felt was a positive experience.

     

    By the way, the car is awesome - much more refined than the previous E36 versions.

     

    Thanks again for all the advice offered here.

     

    Lee
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Let's work up a sample lease payment on this car for you and see what we come up with, mtgman. According to my calculations, if you were to lease a 2004 Saab 9-5 Aero with an MSRP of $43,750 and a selling price of $34,037 through Saab Financial Services Corp. right now for 36 months with 12,000 miles per, its zero down, pre-tax monthly payment should be around $472.

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, Rickster. Dealers usually know which banks have the most attractive lease programs on a vehicle at any given time and will try to steer their customers in that direction. Afterall, the best lease program increases their chances of selling the vehicle and may even allow them to charge a little more for it and still arrive at an attractive lease payment. I would not be surprised if there was an independent bank out there that had a better lease program on this car than Volvo Finance's. I forget, did we work up a sample payment on this car for you yet. If not, let me know its MSRP and selling price and I can tell you how much money it would cost to lease through Volvo Finance at this time. You can then compare this payment to the quote that the dealer gave you for a lease through US Bank.

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem. Let me know if you have nay other questions.

     

    Car_man

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem. Let me know if you have nay other questions.

     

    Car_man

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I am very sorry to hear about this sad situation, supersizeme. On an unrelated positive note, you have a great user ID. Did you see that movie? It was fantastic. OK, here is my assessment of this situation. If the car was leased in this woman's father's name then as long as he continues to make payments on it she can continue to drive it for free. If he is no longer making the payments and she has been, as long as the lease is not in her name she can stop making the payments, the car will be repossessed, and it will have an extremely negative impact upon her father's credit. If the lease was somehow transferred into her name or if she co-signed the lease then if the father has stopped making payments, she must continue to do so or the car will be repossessed, having a negative impact on her credit. If she just wants to cut ties with her father even though he continues to pay for this car, she should drop the car off at his residence or place of business or have someone do so for her and let him deal with it.

     

    Kyfdx was right that the dealership that this car was leased at has nothing to do with this transaction. It is completely between the lessee and the bank that it is being leased through.

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi darknight1. An open-ended lease? I didn't think that banks offered these any more. Infiniti Financial Services certainly does not. If I was in your situation, I would do a closed-end lease on this car through IFS. According to my calculations, if you were to lease a 2004 Infiniti G35 Sedan without AWD with an MSRP of $36,000 and a selling price of $32,800 through IFS right now for 3 years with 12,000 miles per, its zero down, pre-tax monthly payment should be right around $409 and change. As you can see this payment is WAY lower than the over $600 per month that you were quoted to lease this car. It is definitely in your best interest to shop around with a few other dealers to see if you can get closer to the payment that I calculated for you.

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello stridor. There's no such thing as a free lunch in this world. It sounds as though the salesperson who you were speaking with was not being completely truthful with you. One can not just trade in a leased vehicle a year or two before the scheduled end of their lease for free. It is usually fairly expensive to get out of a leased vehicle well before its scheduled end date. In order to to so, one has to purchase their leased car or truck from the bank that they are leasing it through, at a price that is more often than not higher than its actual value on the open market. In addition to paying the vehicle's purchase price, many banks require consumers to make all of their remaining lease payments as well when purchasing leased vehicles early. As you can imagine, the negative equity and remaining payments often add up to a lot of money. If you trade your leased vehicle in, you will either have to pay this money out of your own pocket, try to roll as much of it as possible into your next loan or lease, or have the dealership that you are trading it in to pay it for you, severely hampering your ability to get an attractive selling price on your next new vehicle.

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi big_sb. Dealerships are not in business to lose money. While I am sure that loser deals do come along from time to time, the "We are losing money on this deal" is one of the oldest lines in the book. Let's work up a sample lease payment on this car for you that you can compare to the one that you were quoted. According to my calculations, if you were to lease a 2005 Mercedes-Benz C230 Sport Sedan with an MSRP of $33,570 and a selling price of $31,250 through Mercedes-Benz Credit Corp. right now for 39 months with 12,000 miles per year, its zero down, pre-tax monthly payment should be right around $388. I arrived at this payment, using MBC's base lease money factor of .00200 and a residual value of 60%. Other than the small down payment, this deal looks good to me. I believe that Mercedes-Benz is currently waiving the first month's payment on this car, so keep that in mind in your negotiations.

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, brodway. Thanks for taking the time to report back to let us all know how everything turned out. Many banks allow their lessees to make additional security deposits, with each one buying down the money factor that is used to calculate their vehicle's payment by a certain amount. Additional security deposits are an outstanding alternative to making a capitalized cost reduction for consumers who have the money to put down, because assuming that your car does not have any excess wear and tear or excess mileage penalties at lease-end you will actually get your additional security deposits back. It sounds like you got a great deal. Enjoy your new car :).

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello massjake. I would be more than happy to tell you what I think of the lease payment that you have been quoted for this truck. However, in order to calculate a sample lease payment to compare to the one that you were given, I need to know its full MSRP. This is a good number for you as a consumer to know anyhow because without it, it is difficult to tell what sort of a discount you are being given on this truck's price. Let me know the MSRP and I will tell you what I think.

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings vkj. I would be more than happy to try to give you an idea of what this model's lease program is currently like. However, in order for me to do so, I need to know if you are interested in the 2.7T or 4.2L version and how long you want to lease it for. Let me know and I will let you know.

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, pdurant. Nice choice in cars. Here is the informaiton that you are looking for. According to the latest information that I have seen, if you were to lease a Acura TL without Nav through American Honda Finance Corp. right now for 4 years with 15,000 miles per, its base lease money factor and residual value should be .00210 and 51%, respectively. Let me know if you have nay other questions.

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi stevation. My wife actually leased a previous generation Nissan Pathfinder through Nissan Motor Acceptance Corp. several years ago and she did not have any problems with turning it in at lease-end. She was not assessed any sort of excess wear and tear charges at all. Having said this, some of the problems that you described, like dealers not being cooperative when one wants to return their vehicle, are dealership specific and not specifically related to Nissan or NMAC. If you find a good dealer to work with, you should not have any problems. Besides, you should be free to turn in your leased Pathfinder to any Nissan dealership, not just the one that you originally got it from. So if your original dealer is not being cooperative you can always take it somewhere else.

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello Nadeem. The selling prices of leased vehicles definitely are negotiable. You should negotiate the lowest selling price that you can prior to having the dealership that you are working with calculate your lease payment for you. Don't hide the fact that you are plan on leasing from them though because there is dealer cash on this vehicle that can not be combined with Volvo Finance's special lease program. They may end up quoting you a price that is not possible without this dealer cash if you hide your intention to lease and you would have to start your negotiations all over again.

     

    You should be able to roll whatever taxes and fees you would like into your vehicle's capitalized cost, provided that your state allows you to do so.

     

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  • denverg35denverg35 Member Posts: 54
    Hi Carman,

     

    Could you provide me with the MF and resid for a 2005 Volvo Xc 90 xt---looking at a 39 or 42 month lease, whichever is sweeter

     

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    General Motors is running a lease pull-ahead program right now. Unfortunately, it will not get out of your current Blazer lease that is scheduled to end in October of 2005 because the latest end date that this program will waive customers' remaining lease payments for is July 31, 2005. I don't believe that you can use this program to waive your remaining payments through July and then just pay the rest of them on your own. It is my understanding that either you qualify for the waiver of all of your remaining payments or none of them.

     

    I suspect that GM will run this sort of program again early next year. Wait a few months and check with me again. By then they may allow lessees with end dates of October '05 to have their remaining payments waived if they purchase or lease another GM product.

     

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  • sacdriversacdriver Member Posts: 33
    Car_man --

     

    In a previous response you stated "It is difficult to say fro certain what Acura's October lease program will be like on the '04 TL. If I had to make an educated goes though, I would say that it will probably be slightly worse than its September program was like on this car." Is information on Acura's lease program readily available on the internet?

     

    I am thinking of buying an Acura TL. In working up some lease numbers, the dealer is showing a $595 "bank fee" for leasing through Honda Leasing. I have been leasing for 20 years from GMAC and Ford Credit and have never paid a "bank fee". There's no bank involved here. In some articles I have read, the author says a bank fee imposed on a lease by a manufacturer's financing arm is simply another dealer markup and shouldn't be paid. Is this true? The dealer is currently using a money factor of 0.00230 and a residual of 56% on a 42 month lease on an '05 TL w/o navigation system. Does this sound right to you?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, Ken. Let's take a look at the lease program for the other truck that you are considering. According to the latest information that I have seen, if you were to lease a 2005 BMW X3 3.0i through BMW Financial Services right now for 3 years with 12,000 miles per, its base lease money factor and residual value should be .00210 and 58%, respectively.

     

    Car_man

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, gold233790. Good luck in your negotiations on the 5-Series that you are interested in.

     

    As far as the car that your sister is interested in goes, (she sucked you into helping her with flattery huh ;)) if she was to lease a 2005 Acura TL without navigation through American Honda Finance Corp. right now for 36 months with 15,000 miles per year, its base lease money factor and residual value should be .00235 and 59%. I have not seen AHFC's 42 month numbers for this car, but its 39 month numbers should be .00235 and 56%. The money factors for otherwise identical leases of this car with navigation would be the same, but its residual values would be 2% lower.

     

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, Lee.

     

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